Bellerophon Therapeutics Announces Closing of $43.7 Million Public Offering of Common Stock and Concurrent Registered Direct ...
May 22 2020 - 9:47AM
Bellerophon Therapeutics, Inc. (Nasdaq: BLPH) (“Bellerophon” or the
“Company”) today announced the closing of its previously announced
public offering and concurrent registered direct offering (the
“Offerings”) for gross proceeds of approximately $43.7
million, which includes the full exercise of the underwriters’
option to purchase additional shares.
Bellerophon intends to use the net proceeds from the Offerings,
together with its current cash and cash equivalents, for funding
its ongoing clinical trials, working capital needs and other
general corporate purposes.
A total of 3,365,384 shares of common stock were issued in the
Offerings, which includes the full exercise of the underwriters’
option to purchase additional shares, at a public offering price
of $13.00 per share. The Offerings consisted of an
underwritten offering (the “Underwritten Offering”) and a
registered direct offering to Puissance Life Science Opportunities
Fund VI, an institutional investor affiliated with a member of the
Company’s board of directors (the “Direct Offering”).
Jefferies LLC acted as sole book-running manager for the
Underwritten Offering. H.C. Wainwright & Co., LLC acted as the
lead manager for the Underwritten Offering.
The securities were offered pursuant to an effective shelf
registration statement that was previously filed with the
Securities and Exchange Commission (“SEC”). The Offerings were made
only by means of prospectuses and prospectus supplements forming a
part of the registration statement. Final prospectus supplements
and the accompanying prospectuses describing the terms of the
Offerings were filed with the SEC and are available at the SEC’s
website located at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Bellerophon
Bellerophon is a clinical-stage biotherapeutics company
focused on developing innovative therapies that address significant
unmet medical needs in the treatment of cardiopulmonary diseases
and infectious lung diseases. The Company is currently developing
multiple product candidates under its INOpulse® program, a
proprietary pulsatile nitric oxide delivery system.
Forward-looking Statements
Any statements in this press release about Bellerophon’s future
expectations, plans and prospects, including statements about the
intended use of net proceeds from the Offerings, as well as
statements about the clinical development of its product
candidates, regulatory actions with respect to the Company’s
clinical trials and expectations regarding the sufficiency of the
Company’s cash balance to fund clinical trials, operating expenses
and capital expenditures, and other statements containing the words
“anticipate,” “believe,” “continue,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “will,” “would,” and
similar expressions, constitute forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those indicated by
such forward-looking statements as a result of various important
factors, including: INOpulse® may prove not to be an effective
treatment for COVID-19 or approved for marketing by the FDA, market
and other conditions, the uncertainties inherent in the initiation
of future clinical trials, availability and timing of data from
ongoing and future clinical trials and the results of such trials,
whether preliminary or interim results from a clinical trial will
be predictive of the final results of that trial or whether results
of early clinical trials will be indicative of the results of later
clinical trials, expectations for regulatory approvals, the FDA’s
substantial discretion in the approval process, availability of
funding sufficient for our foreseeable and unforeseeable operating
expenses and capital expenditure requirements and other factors
discussed in the “Risk Factors” section of the Company’s most
recent Annual Report on Form 10-K and in subsequent filings with
the Securities and Exchange Commission. In addition, any
forward-looking statements included in this press release represent
Bellerophon’s views only as of the date of this release and should
not be relied upon as representing the Company’s views as of any
subsequent date. The Company specifically disclaims any obligation
to update any forward-looking statements included in this press
release, except as required by law.
Contacts
At
Bellerophon: |
|
At LifeSci Advisors: |
Fabian Tenenbaum, Chief Executive Officer |
|
Brian Ritchie |
(908) 574-4767 |
|
(212) 915-2578 |
Source: Bellerophon Therapeutics, Inc.
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